§ 16606
188 words·~1 min read·
/ca/probate-code/16606A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)This chapter does not apply to any of the following:
(1)A power of appointment.
(2)The power to appoint or remove a trustee or trust director.
(3)The power of a settlor over a trust, to the extent the settlor has a power to revoke the trust.
(4)The power of a beneficiary over a trust, to the extent the exercise or nonexercise of the power affects the beneficial interest of the beneficiary.
(5)The power over a trust if both of the following apply:
(A)The terms of the trust provide that the power is held in a nonfiduciary capacity.
(B)The power is required to be held in a nonfiduciary capacity to achieve the settlor’s tax objectives under the United States Internal Revenue Code of 1986 and regulations issued thereunder.
(b)Unless the terms of a trust provide otherwise, a power granted to a person to designate a recipient of an ownership interest in, or power of appointment over, trust property that is exercisable while the person is not serving as a trustee is a power of appointment and not a power of direction.